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4265 S Bruce Street - Bruce Rochelle Apartments, Las Vegas, NV

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4265 S Bruce Street - Bruce Rochelle Apartments

Las Vegas, NV 89119 - Outer Las Vegas Strip MF Submarket

Property Type:Multi-Family Number of Units:60 Status:Existing Year Built:1983
Stories:2 Building Size:42,600 SF Land Area:2.05 AC (89,298 SF)
For Sale Price:$3,700,000 Price/Unit:$61,666.67 Cap Rate:8.00 % GRM:-

Parking:2.58 Parking Spaces / 1,000 SF

Nice mix of one and two bedroom units, will need some value added rehab. Large parking area behind apartments should provide new owner with additional building options. Has two pools, apartments sit on two seperate but contiguous parcels.

Only three short blocks from rapidly expanding UNLV campus. Largest land owner in southern tier of Las Vegas Valley.

APN: 162-23-501-006

Sale Notes:
Sixty Units Built in 1983
Convenient Freeway Access; I- 15 & US 95
Close to Las Vegas Convention Center and the Las Vegas Strip
Near Casinos and Major Employment
Walking Distance to UNLV and the Boulevard Mall

This subject property is located in University/The Strip submarket area, 32 one-bedroom and 28 two-bedroom/two-bath unit mix, painted stucco exterior with flat roofs, four apartment buildings, on the northwest corner of Rochelle Avenue and Bruce Street, close to Interstate 15 and U.S. Route 95. The property is zoned R-4 which is multiple-family residential and has 83 asphalt covered/surface parking spaces. It is an excellent time to consider purchasing stable income producing apartments below the replacement cost with a huge potential asset appreciation. It is perfect for potential owner to manage the property to save an additional cost. This property is truly value add with a huge upside potential.
The property is close to the Las Vegas Strip and Las Vegas Convention Center (10 minutes drive), Downtown Las Vegas (4.7 miles), The Boulevard Mall and University of Nevada, Las Vegas (within walking distance), and right next to the Desert Springs Hospital Medical Center. The property has two swimming pools and laundry facilities. The residents benefit by being in close proximity to a wide selection of shops, schools, restaurants, commuter-friendly freeways and entertainment destinations. There are excellent employment opportunities in the neighborhood because Bruce and Rochelle is situated in the heart of Las Vegas.

Siegel Commercial Advisors
Brett Beck
(702) 952-1960

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